Ramachandran to head Citi cards business

Citigroup has announced the appointment of Atul Malik as chief operating officer of the global consumer group (GCG), Hong Kong.

T R Ramachandran, formerly product and marketing director of Citibank's cards division, has taken over from Malik as cards business manager in India.

These changes came into effect from January 1. Ramachandran has worked closely with Malik in consolidating Citibank's card leadership of two million credit cards in November 2003, a Citi release said.

It also said Malik has been instrumental in growing the business and strengthening Citibank's position as the No 1 card issuer and acquirer in India.

Incidentally, ICICI Bank too has recently claimed to have acquired to top position in card business by crossing the two million mark.

Sarvesh Sarup, global consumer group head, Citibank India, said: "These appointments are a further testimony to Citigroup recognising Indian managerial talent and providing opportunities for its growth."

He added: "We are looking to Ram to lead Citibank's cards business in India to the next level of growth, further strengthening our leadership.

During his 15-year tenure with Citibank, Malik has worked in diverse functions including sales, collections and business.